Tuesday, September 29, 2009

Where I come from..........

they call the kettle black. When your bank account goes to a zero balance you are broke. Pure and simple. Please tell me what you would call this situation.

"[FDIC] staff estimates that both the FDIC Fund balance and the reserve ratio as of September 30, 2009, will be negative. This reflects, in part, an increase in provisioning for anticipated failures. In contrast, cash and marketable securities available to resolve failed institutions remain positive." - FDIC, September 28

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